ICG becomes third CLO manager to reset in Europe in one week
European CLO reset volumes last week were higher than for the whole year running up to it, as Intermediate Capital Group on Friday became the sixth manager to price a reset on the continent in 2019

ICG adds managing director to DACH subordinated debt and equity team
The new hire will be based in Frankfurt and adds to others the firm has made this year in the region

ICG goes short-dated route as it lines up 2013 European CLO reset
Intermediate Capital Group is lining up a reset of its 2013 CLO named St Paul’s II, looking to optimise the term curve by renewing the reinvestment period for just two years

ICG brings in managing director for client-facing role spanning Austria and Germany
ICG has appointed Julia Beinker as managing director to expand the firm’s client base in Austria and Germany

Credit funds at a glance

Global CLO b-wic round-up: control equity hits the market as secondary market picks up
The CLO secondary market in both Europe and the US brought healthy volumes last week. There was €174.9 million listed in the European CLO secondary market, while the US returned a with just over $600 million in CLO b-wics. 

ICG looks to expand in Germany with senior hire in Frankfurt
ICG has hired an official to build out its origination capabilities with the remit spanning subordinated debt and equity

Spreads tighten as ICG prices second euro CLO of 2019
Intermediate Capital Group teamed up with Bank of America Merrill Lynch yesterday to price a new issue CLO named St Paul’s CLO XI

ICG hires from Cerberus as it prepares for distressed opportunities
Intermediate Capital Group has announced that Alan Ross has joined from Cerberus Capital Management to work on special situations credit

Pennsylvania pension commits $150 million to European credit funds
Pennsylvania State Employees’ Retirement System approved $975 million of investments at its 24 April meeting

ICG recruits Carlyle official to European subordinated debt and equity team
Intermediate Capital Group has appointed a former Carlyle Group managing director to its team in London

UK pension allocates £900 million to four private debt managers
The £21.9 billion pension fund has awarded £900 million to three private debt managers and one real estate debt manager, according to 6 March board minutes

ICG ditches fixed triple As in new CLO price talk
Intermediate Capital Group is marketing an updated version of its first CLO of 2019, via Goldman Sachs. 

Price talk circulates on ICG's €410 million European CLO
Intermediate Capital Group is marketing its first CLO of the year, via Goldman Sachs, with pricing expected mid-week

European CLO equity in focus for secondary market with 50% trade rate
European CLO equity valuations ranged from the 50s to 70s, but only two our of four positions traded yesterday

ICG hits €4 billion target for European private debt fund
Intermediate Capital Group has hit its €4 billion fundraising target for its seventh European private debt fund, according to the firm’s semi-annual results

Alaska pension fund puts $123 million to work following $1 billion credit platform launch
Alaska Permanent Fund Corporation (APFC) has made a $123.3 million commitment to a European direct lending fund

CLO managers see risk retention hurdles as Brexit approaches
Barriers are emerging to UK-based CLO managers seeking risk retention compliance via both the sponsor and the originator route as the country edges closer to Brexit, sources say. 

ICG reports €4.8 billion of inflows over three months after direct lending success
Intermediate Capital Group has released its quarter end results - showing strong inflows and deployment

Connecticut pension fund looks to mandate $140 million to private debt
Connecticut Retirement Plans and Trust Funds mandated $50 million to Balance Point Capital and is looking to invest up to $90 million to Intermediate Capital Group

ICG reissues three European CLOs still bound by call locks in risk retention move
Intermediate Capital Group has shifted its CLO risk retention strategy to an originator structure by reissuing three of its deals

CLO b-wic line up: European equity makes up 85% of today's market share
European CLO equity has found a sudden burst of liquidity, albeit in bite-size pieces

CLO b-wic lineup shows it’s never too late to trade 1.0 equity
Old legacy deals make a comeback today as €37 million and $12 million of 1.0 equity is up for grabs in two European deals - Eurocredit CDO VI and Oak Hill European II - and one US deal, Gale Force 3 CLO.

US pension fund backs ICG's global mid market offerings
London-based Intermediate Capital Group has won further commitments from US pension funds for middle market credit investing

Global CLO manager prices new issue European deal via Credit Suisse
The manager priced its second European CLO transaction of the year on Friday